Discussion in 'Trading' started by ByLoSellHi, Mar 13, 2007.
Wave of relentless selling.
Bask in it....short/buy Puts on lenders.
It's a beautiful thing.
Aren't you short though?
I went long on refiners and oil service.
Even RBOB is being taken lower today.
They would've had to already been on to take advantage of this baby.
The 4 year Bull isn't even close to being broken, but these 10pt selling sprees (multiple, intraday, ES contract) are a shock-to-the-system.
Think of it as they're just getting us warmed-up for when the Bear comes back to town.
Sell high, buy low?
Yeah. Something like that.
I got caught, too.
Never go against first intuition - I thought I learned this lesson 100x over.
You should have seen this coming when those CNBC morons went ga ga over a pathetic 30pts "rally" yesterday. TRIN was over 1 all day yesterday masking the underlying rot in the market.
<i>"For the past threee sessions, S&P 500 index has tested and failed at its 38% retracement level of recent highs to lows. This of course is a widely-watched mark of initial resistance. Failure to press higher and take that level out would show extreme weakness in the broad market."</i>
Technical analysis trumps emotions every time. Dead cat bounce... lower lows lie ahead
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